We refurbished a prominent 1920s building in the heart of historic Walsall, developing a residential scheme in vacant office space that exceeded market expectations.

The asset, a four-storey mock Tudor building with a terrace of four ground-floor retail units, was obtained with vacant possession of the upper parts.

The retail units were fully let and producing an excellent return.

Having conducted thorough due diligence on the Walsall housing market at the time of purchase, we could see there was good value to be made in the vacant offices.

Walsall was undergoing a period of regeneration, and our residential scheme was targeted at young West Midlands professionals looking for their first home, allowing them to live outside of the city centre and commute into Birmingham, taking advantage of the more cost-effective property market in Walsall.

We refurbished the offices into an 18-flat development, creating an attractive product that sold exceptionally well.

We offered various effective financial incentives to swiftly sell the 18 units to our target demographic, at prices in excess of 50% higher than local property professionals had said we could achieve

This strategy also strengthened the retail investment by removing the draining empty rates from the vacant office space.

Following the successful sale of the residential portion of the asset, we then sold the retail units, exiting the 18-month project with a considerable profit for our clients.

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